Capital Product Partners L.P. (CPLP) Expected to Announce Quarterly Sales of $59.96 Million
Wall Street analysts forecast that Capital Product Partners L.P. (NASDAQ:CPLP) will announce sales of $59.96 million for the current quarter, Zacks reports. Five analysts have provided estimates for Capital Product Partners’ earnings, with the highest sales estimate coming in at $62.37 million and the lowest estimate coming in at $58.02 million. Capital Product Partners posted sales of $62.40 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The company is expected to report its next quarterly earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that Capital Product Partners will report full-year sales of $59.96 million for the current financial year, with estimates ranging from $232.94 million to $247.38 million. For the next year, analysts forecast that the firm will post sales of $241.34 million per share, with estimates ranging from $226.00 million to $259.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Capital Product Partners.
Capital Product Partners (NASDAQ:CPLP) last released its earnings results on Friday, October 27th. The shipping company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. Capital Product Partners had a net margin of 17.17% and a return on equity of 4.70%. The firm had revenue of $62.68 million during the quarter, compared to the consensus estimate of $59.71 million.
Capital Product Partners (CPLP) opened at $3.51 on Friday. Capital Product Partners has a 52-week low of $3.10 and a 52-week high of $4.00. The firm has a market cap of $474.12, a P/E ratio of 12.54 and a beta of 1.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.81.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Capital Product Partners by 0.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 66,107 shares of the shipping company’s stock worth $225,000 after buying an additional 523 shares during the period. Private Advisor Group LLC boosted its holdings in Capital Product Partners by 4.6% in the 2nd quarter. Private Advisor Group LLC now owns 80,419 shares of the shipping company’s stock worth $296,000 after buying an additional 3,518 shares during the period. Wells Fargo & Company MN boosted its holdings in Capital Product Partners by 6.8% in the 2nd quarter. Wells Fargo & Company MN now owns 100,914 shares of the shipping company’s stock worth $343,000 after buying an additional 6,450 shares during the period. Citadel Advisors LLC boosted its holdings in Capital Product Partners by 60.6% in the 2nd quarter. Citadel Advisors LLC now owns 43,243 shares of the shipping company’s stock worth $147,000 after buying an additional 16,318 shares during the period. Finally, Partnervest Advisory Services LLC boosted its holdings in Capital Product Partners by 12.6% in the 3rd quarter. Partnervest Advisory Services LLC now owns 149,585 shares of the shipping company’s stock worth $524,000 after buying an additional 16,749 shares during the period. 19.24% of the stock is owned by institutional investors.
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Capital Product Partners Company Profile
Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.
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